Guggenheim reissued their buy rating on shares of ServiceNow, Inc. (NYSE:NOW) in a research report released on Thursday morning. The brokerage currently has a $120.00 target price on the information technology services provider’s stock, up from their prior target price of $108.00.

A number of other analysts have also issued reports on the company. JMP Securities reiterated an outperform rating on shares of ServiceNow in a research note on Thursday. Canaccord Genuity reiterated a buy rating and set a $130.00 price objective (up from $110.00) on shares of ServiceNow in a research note on Thursday. BMO Capital Markets boosted their price objective on ServiceNow from $110.00 to $127.00 and gave the company an outperform rating in a research note on Thursday. BidaskClub lowered ServiceNow from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada boosted their price objective on ServiceNow from $110.00 to $126.00 and gave the company a top pick rating in a research note on Monday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. ServiceNow currently has a consensus rating of Buy and an average target price of $114.76.

ServiceNow (NYSE:NOW) traded down 1.33% during mid-day trading on Thursday, hitting $110.17. The stock had a trading volume of 1,312,380 shares. The company’s 50 day moving average is $106.94 and its 200-day moving average is $95.33. The stock’s market capitalization is $18.78 billion. ServiceNow has a 52 week low of $71.25 and a 52 week high of $115.85.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. ServiceNow had a negative return on equity of 30.72% and a negative net margin of 10.17%. The company had revenue of $471.70 million for the quarter, compared to analyst estimates of $462.11 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, analysts expect that ServiceNow will post $1.17 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “ServiceNow, Inc. (NOW) Given Buy Rating at Guggenheim” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.watchlistnews.com/servicenow-inc-now-given-buy-rating-at-guggenheim/1464457.html.

In other news, Director Frederic B. Luddy sold 52,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $109.96, for a total value of $5,717,920.00. Following the completion of the sale, the director now owns 11,190 shares of the company’s stock, valued at approximately $1,230,452.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederic B. Luddy sold 167,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $108.34, for a total value of $18,092,780.00. Following the completion of the sale, the director now directly owns 11,190 shares of the company’s stock, valued at approximately $1,212,324.60. The disclosure for this sale can be found here. In the last three months, insiders sold 581,673 shares of company stock valued at $61,196,746. 3.30% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in NOW. Vanguard Group Inc. raised its stake in ServiceNow by 8.1% in the first quarter. Vanguard Group Inc. now owns 13,244,656 shares of the information technology services provider’s stock worth $1,158,511,000 after buying an additional 994,461 shares during the period. FMR LLC raised its stake in ServiceNow by 91.1% in the first quarter. FMR LLC now owns 3,280,069 shares of the information technology services provider’s stock worth $286,908,000 after buying an additional 1,563,778 shares during the period. TIAA CREF Investment Management LLC raised its stake in ServiceNow by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 2,243,355 shares of the information technology services provider’s stock worth $196,226,000 after buying an additional 254,144 shares during the period. Jennison Associates LLC raised its stake in ServiceNow by 2.7% in the first quarter. Jennison Associates LLC now owns 1,257,996 shares of the information technology services provider’s stock worth $110,037,000 after buying an additional 33,300 shares during the period. Finally, Renaissance Technologies LLC raised its stake in ServiceNow by 770.6% in the first quarter. Renaissance Technologies LLC now owns 1,072,600 shares of the information technology services provider’s stock worth $93,820,000 after buying an additional 949,400 shares during the period. 97.50% of the stock is owned by institutional investors.

About ServiceNow

ServiceNow, Inc is provider of enterprise cloud computing solutions that define, structure, manage and automate services for global enterprises. The Company offers a set of cloud-based services that automate workflow within and between departments in an enterprise. It provides workflow solutions, and focuses on service management for customer support, human resources, security operations and other enterprise departments.

Analyst Recommendations for ServiceNow (NYSE:NOW)

Receive News & Ratings for ServiceNow Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ServiceNow Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.